diff --git a/CHANGELOG.md b/CHANGELOG.md
index 054a0aba177..4baf6431dba 100644
--- a/CHANGELOG.md
+++ b/CHANGELOG.md
@@ -1,6 +1,6 @@
 # Changelog
 
-## Unreleased
+## Version 1.42.1 (2024-09-10)
 
 ### API
 
diff --git a/version.gradle.kts b/version.gradle.kts
index 003f1aa92c6..48e6a50f1e1 100644
--- a/version.gradle.kts
+++ b/version.gradle.kts
@@ -1,7 +1,7 @@
 val snapshot = false
 
 allprojects {
-  var ver = "1.42.0"
+  var ver = "1.42.1"
   val release = findProperty("otel.release")
   if (release != null) {
     ver += "-" + release